The Board of Zoning Appeals on Wednesday extended approval of a $16 million apartment project proposed by Richbell Capital for 25 Holland Ave. READ
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New urbanist vision for derelict Tobin site in AlbanyApr. 3, 2015

The derelict Tobin First Prize plant along Interstate 90 in Albany and Colonie would be replaced by a walkable neighborhood of residences, small shops, offices, restaurants and entertainment, under a plan being developed by Richbell Capital, sources told the Times Union. READ
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With $24 million in financing now in hand, the owners of the Adelphi Hotel in downtown Saratoga Springs have started the long-awaited reconstruction of the 137-year-old hotel. READ
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Adelphi rehab moves ahead with $24M loanJan. 9, 2015

Toby Mildé rang in the new year with the sort of accomplishment that would make any developer feel better about the road ahead. READ
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Historic Hotels Move Toward New FuturesJan. 9, 2015

Two historic hotels in the region are moving a step closer to finding new life in their communities. WAMC’s Southern Adirondack Bureau Chief Lucas Willard reports on the latest developments in Saratoga Springs and Cambridge. READ
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Expanded Adelphi Hotel project in Saratoga up to $34MJan. 6, 2015

More than a century of patchwork renovations made the Adelphi Hotel a maze of structural support, none of which seemed to offer the iconic Broadway building much stability. READ
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Financing in place, Adelphi Hotel project moving forwardJan. 5, 2015

RichBell Capital has secured $24 million in financing from the Bank of America to complete the rehabilitation and restoration of the historic Adelphi Hotel in Saratoga Springs. READ
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A long-awaited gut renovation and upgrade to the historic Adelphi Hotel will start this week in Saratoga Springs, New York, but the $34 million overhaul is much larger, and more ambitious, than the original plans. READ
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The Kensington At Halfmoon Will Have 200 Luxury Apartments By Spring 2014Nov. 11, 2013

Richbell Capital seems to have a good eye for development opportunities and a discerning clientele appears to welcome its vision. Saratoga resident and Richbell president Toby Mildé's latest project is The Kensington at Halfmoon, 200 luxury apartments set on 30 acres at the corner of Stone Quarry Road and Route 9. READ
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On Friday, a decade after the idea for The Residences at Lexington Hills was first proposed for an 85 acre site off of St. Agnes Highway, the groundbreaking for the $70 million project was held. READ
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Big dig begins in CohoesNov. 7, 2014

It's been a decade in the planning, but on Friday morning, ground was broken for Cohoes' largest apartment development, the $70 million Residences at Lexington Hills. READ
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Cohoes’ largest apartment project under wayOct. 29, 2014

Work is getting under way on the Residences at Lexington Hills, a 408-unit apartment complex that will be the largest in Cohoes, according to Ed Tremblay, the city’s director of community and economic development. READ
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408-unit private apartment project largest in CohoesOct. 29, 2014

Work is getting under way on the Residences at Lexington, a 408-unit apartment complex that will be the largest in the city, said Ed Tremblay, the city director of community and economic development. READ
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RBC Construction broke ground on The Residences at Lexington, a $70 million luxury apartment complex in Cohoes, New York that continues its big investments in the multi-family residential market in the Albany region. READ
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Adelphi Hotel owner acquires Saratoga Springs propertiesOct. 27 2014

The owner of the historic Adelphi Hotel in downtown Saratoga Springs, New York, paid more than $2 million for nearby properties, greatly increasing the size and scope of a renovation project that has been more than two years in the making. READ
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Holland Ave. apartments proposedAug. 8, 2013

In earlier version of this story incorrectly stated the original use of the existing 33-unit apartment building on Holland Avenue. While the building at 25 Holland Ave. eventually became a dorm for Albany College of Pharmacy, that was not its original purpose. READ
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40 Under 40: Robert HofmannMay 10, 2013

Robert Hofmann had to make a tough career decision, twice.
The first time was when a job opened up at BBL Construction Services LLC in Albany, one of the largest commercial builders in the region.
At the time, Hofmann was working as an estimator at Curtis Lumber in Ballston Spa. READ
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RBC Construction building Halfmoon
apartmentsJan. 17, 2013

RBC Construction, a new general contractor in the Albany,
NY, area, is pouring foundations for a $35 million apartment
complex in Saratoga County, one of its first projects. The
200-unit Kensington at Halfmoon is being built at the corner
of Stone Quarry Road and Route 9 in the suburban town, one
of the fastest-growing in the region. RBC was formed by the
principals of Richbell Capital LLC, the same investors who
bought the historic Adelphi Hotel in Saratoga Springs last
year for $4.5 million. READ
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SARATOGA SPRINGS — After clearing out hundreds of antiques
in a recent estate sale, Adelphi Hotel owners are preparing
for the next phase of a major building overhaul. About 30
percent of the 135-year-old building’s contents were
sold recently during a four-day event that saw scores of people
line up outside for a chance to buy a piece of Saratoga history.
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The investors who bought the historic Adelphi Hotel in Saratoga
Springs last spring are rolling the dice on another new venture.
They started a construction company that will do $6 million
to $7 million in renovations after the hotel closes for the
season in November. Another project coming up: a $36 million,
200-unit luxury apartment complex called The Kensington of
Halfmoon.READ
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Planned renovation could mean a
modern heyday for historic Adelphi Hotel on BroadwayAug.26, 2012

SARATOGA SPRINGS — Broadway was once lined with expansive,
monumental hotels such as the Grand Union and the United States.
The only surviving hotel is the four-story Adelphi, built
in 1877, and its new owners are planning an extensive renovation.
This past spring, the hotel was purchased by Simon Mildé,
his son, Toby, and Larry Roth. Simon is the chairman and chief
executive officer of Richbell Capital, and Toby is its president.
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The Adelphi Hotel, A Saratoga Grande
Dame, Gets A Little Work DoneAug.16, 2012

Step into the lobby of the Adelphi Hotel on Broadway in Saratoga
Springs, New York, and step back into history.
Built in1877, the Adelphi is the last of the grand hotels
that graced the main thoroughfare of this small city nestled
among the Catskill, Adirondack, and Berkshire Mountains. Known
for the mineral water that courses beneath it, feeding the
bathhouses and giving the town its name, Saratoga in the 19th
century was the summer destination of the rich, the social,
the ambitious, the corrupt, the adventurous. READ
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In the Biz: Adelphi Hotel now under
new ownershipJun.18, 2012

The Adelphi Hotel in Saratoga Springs is now open for business
under new owners. The historic hotel on Broadway is now being
operated by RBC Hotels, a hotel management company owned by
Richbell Capital LLC. The company retained the vast majority
of the people who were employed by the hotel under its previous
owners, many of whom have worked there for a decade or longer..
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New owners of Adelphi Hotel plan
$6 million in upgradesMay 4, 2012

The new owners of the historic Adelphi Hotel in Saratoga Springs
plan to spend nearly $6 million converting the 39-room hotel
from a summertime business to a year-round destination. “We’re
excited about it,” said Toby Mildé, president
of Richbell Capital LLC, the investment group that paid $4.5
million for the hotel at 361-365 Broadway. Mildé expects
demand for upscale hotel rooms to grow with the influx of
more technology-related jobs, such as those at the $4.6 billion
GlobalFoundries chip fab in Malta, 10 miles south of Saratoga
Springs. READ
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$4.5M sale of Adelphi Hotel in
Saratoga finalizedMay 1, 2012

The $4.5 million sale of the Adelphi Hotel in downtown Saratoga
Springs has been finalized. The closing documents were signed
late last week, transferring ownership of the historic, Victorian-era
hotel to a group of investors that includes Toby Milde, a
37-year-old city resident and real estate developer. The Business
Review first reported the deal was in the works. READ
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The Paddocks, luxury apartments
in Saratoga, set for expansionJun 29, 2011

Apartment company Capital District Properties LLC will break
ground Aug. 1 on an expansion of its luxury units in Saratoga
Springs. The company will invest $14 million to build an additional
84 units, said Toby Milde, managing director and partner of
the company. The project marks a 25 percent expansion of the
units at The Paddocks of Saratoga today. The first units should
be ready to lease at the beginning of 2012, Milde said.
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Capital District Properties LLC plans to add another 200 units
to its portfolio of luxury apartments in the region. The real
estate investment firm will start building The Moorings of
Halfmoon this spring on Route 9 at Stone Quarry Road, said
Bill Hoblock, managing director. The first units should be
ready for occupancy at the end of this year or early 2012.
Rents will range from about $1,250 for a one-bedroom, 900-square-foot
apartment to $1,800 for 1,450 square feet with two bedrooms
and a den.
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Owners of a Latham real estate development company believe
they've got a head start on the next big trend in housing.
Capital District Properties LLC is tapping into the "renters
by choice" market of empty-nesters, young professionals
and snowbirds who can afford to buy a home but don't want
to. Residents began moving into the company's first batch
of high-end apartments last month as builders finish construction
of the initial phase of The Paddocks of Saratoga off Old Gick
Road in Wilton.
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